The founder appears to have been involved in businesses outside of real estate: ‘My dream is a locally made grooming products business’ | People | nashvillepost.comSo it does not appear there is a lot of track record there, but those are questions I would ask.

Personally I consider it to be more of a entry level neighborhood for first time home buyers and a blue collar neighborhood for long term renters.

I currently use Wells Fargo and it’s a pain in the butt to keep going there in person and setting up a security deposit account.

@Ella Marie, I can't speak on behalf of your market, but in my respective market, competition is tough, and the successful fix-and-flip vendors are often full-time operating businesses.

Your IRA can borrow, but you have to be careful to not personally guarantee it.

I'm sure he could give you some pointers on setting up a business and creative ways to save money.

The liability coverage is way better, the building coverage is often better, and commercial policies typically cover loss of business income as well, which a homeowners policy isn't going to help you with.California + wildfire area + STR is super tough. 

That's why I would never had a business partner.

@Jason Weidmannit's only solid if:1) you pick a market that you can go to in person and build a team first, and 2) you recognize that RE is a long-term investment, and you may have to wait 5-10 years, or longer, before seeing ANY return. 

Personally, I love working with distressed properties, especially foreclosures.